Common use of Security Agreement under Uniform Commercial Code Clause in Contracts

Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Deed of Trust shall constitute, a Security Agreement within the meaning of the Uniform Commercial Code as adopted in the State of Tennessee (the “Uniform Commercial Code”) and other applicable law, and Grantor grants to. Beneficiary a security interest in all items of Trust Property set forth herein in which a security interest may be granted under the. Uniform Commercial Code. If an Event of Default shall occur under this Deed of Trust, then in addition to having any other right or remedy available at: law or in equity, Beneficiary shall have the option of. either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Beneficiary shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys’ fees and legal expenses. At Beneficiary’s request, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both parties.

Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Deed of Trust shall constitute, constitute a Security Agreement within the meaning of the Uniform Commercial Code as adopted in (the “Code”) of the State of Tennessee (the “Uniform Commercial Code”) and other applicable law, and Grantor grants to. Beneficiary a security interest in all items of Trust Property set forth herein in which a security interest may be granted under the. Uniform Commercial CodeNorth Carolina. If an Event of Default shall occur under this Deed of Trust, then in addition to having any other right or remedy available at: at law or in equity, Beneficiary shall have the option of. of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property in accordance with Beneficiary’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Beneficiary shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys’ fees and legal expenses. At Beneficiary’s request, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both parties.

Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Deed of Trust shall constitute, constitute a Security Agreement within the meaning of the Uniform Commercial Code as adopted in the State of Tennessee (the “Uniform Commercial "Code”") and other applicable law, and Grantor grants to. Beneficiary a security interest in all items of Trust Property set forth herein the state in which a security interest may be granted under the. Uniform Commercial Codethe Real Estate is located. If an Event of Default shall occur under this Deed of Trustbe in effect, then in addition to having any other right or remedy available at: at law or in equity, Beneficiary shall have the option of. of either (ia) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Trust Property Estate which is personal property (including, without limitation, taking possession of and selling such property) ), if any, or (iib) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Property Estate in accordance with Beneficiary’s 's rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Beneficiary shall elect to proceed under the Uniform Commercial Code, then ten (10) days’ ' notice of sale of the personal property shall be deemed reasonable notice notice, and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys’ ' fees and legal expenses. At Beneficiary’s 's request, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both parties.

Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Deed of Trust shall constitute, constitute a Security Security. Agreement within the meaning of the Uniform Commercial Code as adopted in the State of Tennessee (the “Uniform Commercial Code”) and other applicable law, and Grantor grants to. Beneficiary a security interest in all items of Trust Property set forth herein in which a security interest may be granted under the. Uniform Commercial Code. If an Event of Default shall occur under this Deed of Trust, then in addition to having any other „right or remedy available at: at law or in equity, Beneficiary shall have the option of. of either (i) proceeding under the Uniform Uniform. Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Trust Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Mortgaged Property in accordance with Beneficiary’s rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Beneficiary shall elect to proceed under the Uniform Commercial Code, then ten days’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, attorneys’ fees and legal expenses. At Beneficiary’s request, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both both. parties.

Security Agreement under Uniform Commercial Code. It is the intention of the parties hereto that this Deed of Trust shall constitute, constitute a Security Agreement "security agreement" within the meaning of the Uniform Commercial Code as adopted in (the "Code") of the State of Tennessee (in which the “Uniform Commercial Code”) and other applicable lawMortgaged Property is located, and Grantor hereby grants to. to Beneficiary a security interest in all items of Trust the Mortgaged Property set forth herein in which a security interest may be granted that is personal property under the. Uniform Commercial the Code. If an Event of Default shall occur and be continuing under this Deed of Trust, then in addition to having any other right or remedy available at: at law or in equity, Beneficiary shall have the option of. of either (i) proceeding under the Uniform Commercial Code and exercising such rights and remedies as may be provided to a secured party by the Uniform Commercial Code with respect to all or any portion of the Trust Mortgaged Property which is personal property (including, without limitation, taking possession of and selling such property) or (ii) treating such property as real property and proceeding with respect to both the real and personal property constituting the Trust Mortgaged Property in accordance with Beneficiary’s 's rights, powers and remedies with respect to the real property (in which event the default provisions of the Uniform Commercial Code shall not apply). If Beneficiary shall elect to proceed under the Uniform Commercial Code, then ten days’ ' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys’ ' fees and legal expenses. At Beneficiary’s 's request, Grantor shall assemble the personal property and make it available to Beneficiary at a place designated by Beneficiary which is reasonably convenient to both parties.